We had a stink bid in at the opening, but gold’s ebullient leap from well above it left us choking on dust as we played spectator for the remainder of the day. The chart (see inset) shows a subtle but very compelling rally target at 1320.50, and I have little doubt the futures will get there. However, if the rally is going to suck in more bullish buying, it will need to impale D=1320.50, the more brutally the better.  Today we’ll just watch, learn and plan. _______ UPDATE (Sep 26, 4:38 p.m.): Wow! A more compelling demonstration of ‘Matt’s Curse’ could not be found than yesterday’s wicked reversal in gold. It occurred precisely at the p2 ‘secondary’ Hidden Pivot of the pattern shown in this chart.  Then, just as subscriber and intrepid bullion-trader Matt’s theory holds, after hitting p2 almost exactly, December Gold turned tail, eventually crashing the ‘C’ low. I’d thought a rally to the ‘D’ target was a lock-up when the tout above went out Monday night. For now, though, and especially when forecasting precious-metal futures, I will be paying closer attention to price action at p2, since it has become a notoriously treacherous spot for gold and silver trading vehicles. ________ UPDATE (Sep 27, 8:31 a.m.): December Gold’s bombed out low this morning fell within three ticks of the D target of this pattern on the 480-min (and others) chart: A = 1319.80 on 9/20; B= 1291.20 on 9/21. If ‘D’ fails badly as support, 1270.20 would be the next stop. ________ UPDATE (Sep 28, 5:59 p.m.): The (corrected) 1270.20 target remains valid (click here), but bulls will have a fighting chance if they can push this brick above 1292.00 on Friday.